He served on the CBOT's board of directors for three years., came up with Market Profile, and, maybe more importantly, the Liquidity Data Bank. But he also failed with X-Funds, which, similar to VS, is difficult to grasp at first.
He is a vendor, but, at least how I perceive him, is more about evolving the marketplace than to make a few bucks; He is more a market philosopher than an evil blood-sucking vendor from the netherworld. I think he is quite comfortable now, anyway. I don't agree with all his reflections, but he has given me food for thought in the past (and now). He clearly has some active synapses, perhaps too many (as is evident in the presentation). Like all of his ilk, he is ego-driven. But most that accomplishes anything are just that. In fact, we all are. Nietzsche spoke of the "will to power" being the driving force for all human beings, and I tend to agree. Alas, that is often misunderstood (and bastardized by Ayn Rand, e.g.) to mean power over others -- it might just as well mean control over one's own life.
I agree with the basic philosophy of VS and I have been trading in a similar fashion for years. My focus, however, has been price -- not volume. I will elaborate more in a later post.
The world, and the markets, have become increasingly primitive in recent times. He speaks of going back to a pre-exchange "database" and I agree with that sentiment. I think the good trading books from the beginning of the last century is just as relevant now, and even more than 20 years ago. I actually think the world is in a state of regression and that we're heading back to the Dark Ages. Religion and superstitions are on the rise, people seem to care less about anything outside their immediate surroundings and scientific literacy is declining. We are becoming more technologically advanced and ignorant at the same time. My theory is that there are now so much information available that people become overwhelmed and "shut off". There are so many "facts", that it seems easier to just "believe".
I like to believe that the pendulum will swing back, but the question is when...
I have read you mention 'Clean Chart' before. What exactly do you mean by this?
Also, do you use any form of opening range methods to find trades? You mentioned before finding certain things that become obvious once you see them. Where you referring to something in order flow, price patterns within bars, or some type of profile activity?
Last edited by forrestang; October 20th, 2011 at 11:14 PM.
The volume strip application currently interfaces with T4, only ( they will be adding TT by the end of the year). Currently the annual lease is $350(will be going up in the future I believe) which can be paid via pay pal / credit card. There isn't much educational material (1 document covering key strokes of vol. strip and one document going over some of the theory), observation and self discovery will be the best path to success. They don't offer any free trials or an interface for sim trading.
Last edited by tigertrader; October 27th, 2011 at 05:34 PM.
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I have the software, but haven't done much with it yet. My interest in it, so far, is academic. It's always fun/exciting to try something new, particular from someone like Peter. Anyway, I'm sure a few of us will have fun exploring the new world of VS.
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